Yahoo Q3 revenue, profit slip

Yahoo Inc's net revenue and profit slipped in the third quarter, as the Internet company struggled to revive its online advertising business.

Yahoo shares were up roughly 3 percent at $15.98 in after hours trading on Tuesday.

Profit in Yahoo's third-quarter, the last quarter under Chief Executive Carol Bartz, who was fired in September, totaled $293 million, or 23 cents per share. In the year-ago period, Yahoo posted net income of $396 million, or $29 per share.

It was not immediately clear whether Yahoo's third-quarter EPS was comparable with the 17 cents a share expected by analysts polled by Thomson Reuters I/B/E/S.

Yahoo's net revenue -- which excludes fees paid to partner websites -- was $1.07 billion, compared with $1.12 billion at this time last year, and in line with Wall Street expectations.